Tuesday, 15 September 2009

"Who are but weasels fighting in a hole" - WB Yeats

So the long-awaited follow-up to the Da Vinci Code is about to be "released". Embargoes have been broken already by reviewers, half-price advance orders have been taken before publication – and now there's a new Brownesque twist in the story: not the usual price competition but an all-out war between retailers. The big W – and even the mighty Amazon – have been caught by surprise by the supermarkets' slashing from £18.99 to as little as £5.00. The Book Depository entered this loss-making competition and announced today that they'd be selling The Lost Symbol for just under a fiver. Obviously it didn't take Amazon long to follow suit and match that price – even retrospectively for the books already preordered… Insane. It is evident that online retailers are exposed to exactly the same dangers as high-street retailers when they try to compete with the supermarkets on discounts.

The Lost Symbol is yet another lost opportunity (for publishers and booksellers). I am pretty sure that many people would have happily paid the full price for it. But intellectual property is being degraded and devalued so much these days, in this brave new Internet world of free music, free news and – soon – free books that it will be even more of a struggle for anybody concerned (authors, publishers, journalists, bookshops, distributors etc.) to survive.

"Bring the Net Book Agreement back!" cries a voice in the desert. You think it won't work? Can it get worse than this? The fixed price is still in place in many European countries, and it could make the difference in UK, too, where publishers and retailers seem to have lost any sense of reality and are prepared to sacrifice profits and margins for that magical words – "sales" and "market share".

When we all go bust, and the majority of readers download books illegally from the Internet rather than buy them from shops, they'll realize that 100% of zero is zero.

1 comment:

Really interesting post. I feel torn though as seeing people actually excited about a new book makes me think the industry does stand more of a chance than we realise. Perhaps we just need to look at different ways of presenting them. Well I hope so or I am unemployed!

Alessandro Gallenzi is the founder of Alma Books and Alma Classics, and the successor of John Calder at the helm of Calder Publications. As well as being a literary publisher, he is a translator, a poet, a playwright and a novelist. His collection of poetry Modern Bestiary - Ars Poetastrica was published in 2005 to critical acclaim and his novel Bestseller was published in 2010.

Alma Books publishes from fifteen to twenty titles a year, mostly contemporary literary fiction, taking around sixty per cent of its titles from English-language originals, while the rest are translations from other languages such as French, Spanish, Italian, German and Japanese. Alma Books also publishes two or three non-fiction titles each year.

Alma Classics aims to publish the greatest recognized masterpieces of all time, from every literature and genre, but also tries to redefine and enrich the classics canon by promoting unjustly neglected works of enduring significance. Recently Alma Classics launched Overture Publishing, which provides a series of beautifully produced opera and classical-music guides which are unique in the English language.